Like I need another toned Morgan? However, this one looks amazing!!!

Shane,

While I agree with you from an ethical standpoint, the toned coin market is fickle, as you know. In an auction setting, you need two bidders to really like the coin in order to maximize your return. When listing coins with high BIN or BO, you get the opportunity to catch the guy who really loves that particular coin and is willing to pay a very high premium for it. Personally, I think your auction style E-Bay business model only works if you have a very large and loyal customer base that checks your listings every week. Other than you and Greattoning, I can think of nobody else who has accomplished such a feat on E-Bay in the toned coin market. The rest of us are relegated to listing our coins with BIN or BO's to avoid losing our shirts.

Having said that, I have never listed a toned MS63 Morgan Dollar for anywhere near $1,000. Heck, I have trouble selling MS66's for $1,000.

Paul

 

Log in or Sign up to hide this ad.

I have a coin with a similar toning pattern.



@Morgandude, do you have any Great Falls Morgans?

 

I agree with you Paul....you have to have a loyal buyer base or your going to lose money hand over fist with Ebay these days. I don't have a problem with MS63's with $1000 BINs as long as it's at least an $800 or $900 coin with color but what we typically see is a $200 coin listed for $1000 waiting for some sucker to come along. I have seen what you sell on Ebay...it's super high end stuff with amazing eye appeal....the fact that you have it listed for multiple of guide only makes sense....folks have to pay up for top shelf stuff...always have and always will.

 

I find most of your stuff goes very fairly on your auctions, Shane. I have gotten at least 25 of them that I consider great finds for the money.

 

Glad to here it....I have seen lots of coins go for bargain prices and I have certainly lost my shirt on quite a few coins which goes back to what Paul said about the fickle market but in the end I make out just fine.

 

very nice Morgan

 

I am seeing this more and more on Ebay. I don't know what was lost first, the buyers leaving because of lack of material and too many BIN, or sellers leaving because of too low of prices. I have a list of about 12 sellers I was the main one buying their stuff on Ebay before they quit due to prices. I wish they would list more, as I want to buy more of their stuff, but they stopped selling there.

Personally, I blame Ebay for raising fees and encouraging more BIN's. BIN's are not the reason people come to Ebay, and I believe their traffic of "real buyers", those of us who in the past used to buy a number of auctions per week, has declined.

Net net, I see a lot less good material on auction anymore, and for my market don't buy many BIN's, since most are higher than alternative sources.

 

i have been selling on a consistent basis for about a year now(been on ebay 12 years) and i see my stuff going for less and less all the time. i am only selling my stuff because i have to or i would hold onto it until there was an upswing.

 

I am a buyer on eBay and The BIN items are above retail and I don't buy those unless there is a unique reason that I should. Otherwise I just bid and buy. Been there 5 years now.
Bob

 

at one point I had 20+ morgan toners but sold all but 5, here is another

 

I cant speak about toned Morgans on eBay but what i can say is that if it wasnt for eBay my collection would have zero pieces because of limited availability. I collect toned Ike dollars and attractive toned coins are pretty hard to come by. I search all the auction sites I physically have time for daily and find that eBay is constantly the one that has the most toned coins at much more fair price than most established places of business. For instance JMS coins has toned Ike dollars for sale that are wildly out of line with actual market prices and if you look into previous sales of such coins you will find that they sell for 50% to 75% less than his asking price. I can also say that i see some sellers on eBay listing there coins with out of control premiums as well but they often times sit without being sold, so to me eBay has been excellent just have to use your brain and be patient.

P.S. Shane i saw the 76-S NGC PR68 proof ike you listed the other day and unfortunately i will not be bidding because i already have a monster toned one in my collection, but nice coin that is currently going for what i believe to be a steal.....

 

Paul, I do not have any of the Great Falls ones right this minute, but have owned 7 of them in my previous collections. Some of the most eye appealing coins come from great hordes such as theirs.

 

This one was not attributed, but reminds me of a Great Falls pattern, with the champagne toning---I picked it up as an unattributed Morgan, but suspect it was part of a big horde, given its looks.

 

I agree with you...I would buy it for double it's current price and think it was a complete rip...we shall see if it moves towards the end of the auction. I sold one last week that was a jaw dropper with come of the most beautiful red bullseye toning I had ever seen on an Ike and while it was only an MS63....I thought the final price of $64 was a huge rip for the buyer.

 

I can tell you one thing that is a big driver in running off good sellers on Ebay right now....it's not the fees...it's the buyers and the lack of any protection for sellers. When I see folks on here complaining about Ebay sellers....which is certainly justified at times, I think of the book I could write about how ebay lets buyers screw me over constantly. If you haven't done business with me...believe me when I tell you I am one of the good guys and I always try to do right by my buyers...I don't play games with my auctions, shill bid, end them early etc but no matter how much I do right when a buyer files any kind of complaint no matter how untruthful, no matter how many names they have called me in Ebays message system....Ebay sides with them abound 95% of the time.

I sold a Toned Proof Roosevelt dime in an old NGC no line fatty slab. The buyer filled a not as described claim, sent a note to ebay saying I cracked the coin out of the holder, Artificially toned it and then resealed it. Then he started a webpage with images of the coin and my business card and made the same while claims to anyone who would listen. Ebay forced me to refund his money and when I did the claim counted against my seller dashboard score and the buyer never sent the coin back and Ebay told me to go pound sand. The only reason Ebay doesn't go under is that their truly is no viable alternative for some of us to make a living. I could build my own website with no problem but would I get the traffic that Ebay sees? Would my consignors still send me coins to sell for them.....most would not.

 

Shane,

When did that happen? I don't remember that situation at all. Personally, I don't think sellers should be able to file a "not as described claim" until they have returned the item. Furthermore, E-Bay should have tracking requirements for returns like they do for the sellers. If the buyer doesn't upload the appropriate tracking within the return period, they should forfeit the ability to file a claim. And just like sellers, they should be required to pay for signature confirmation when returning coins valued over $250. I once had a clown on E-Bay buy a $1,200 1943/2-P Jefferson Nickel and then return it because he took it to 3 local dealers who told him it wouldn't upgrade. When he returned it, the postage on the envelope was $2.80. He sent it First Class with delivery confirmation only, no insurance, no signature confirmation. E-Bay has all kinds of rules for the sellers, but the buyers have absolutely none.

 

It happened last year....I posted a thread on the NGC boards and even Mark Feld got involved and sent the guy a note that he was wrong. Ebay's out was that because I voluntarily gave the buyer a refund that they could not make him send the item back....but Ebay was the one who told me to refund the money....so it was a complete shell game.


Ebay's exact words:

Hello kryptonitecomics (shanec35@yahoo.com),

Thank you for contacting eBay about today, I wanted to send you a follow up email about what is happening with this item.

The case has been closed because you have issued a voluntary full refund. When a refund is issued voluntarily we cannot hold the buyer responsible for sending the item back or following through with a shipping insurance claim.

 

one thing i don't like is what ebay has done to make sellers to require a 14 day return period.(if you want to remain a top rated seller) it might be fine for regular items but for coins and bullion i think it is crazy. it gives the buyer time to shop the coin around and also lets them keep on eye on prices of PM. if PM drop they can just return the bullion and the seller loses money. i think it's great they have such good buyer protection but they do need to step it up on giving the seller some kind of concession also.

 

It is my understanding that the bullion category is exempt from the 14 day return policy. My bigger concern with that policy is someone buying what I list as a PQ coin and then shops it around to dealers for appraisals to see if it will upgrade and returns the coin if the answer is no. A bigger concern because it already happened to me. FWIW, I have never had someone communicate their intent to return a coin past 7 days, fingers crossed.

 

Btw, it just hit me, (the title of this thread). Seriously, like any of us NEED our coins?

Just because we don't NEED them, does not mean that we never DESIRE them. To me, there is no such thing as TOO MANY of any kind of coin. All are good.

Although, being a self admitted hoarder and one to freely buy 12 more examples of a coin he already owns 30 of.........maybe I am not the best person to listen to.